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Correlation between the IT service industry and economic growth

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Frame of Image ng than on IT services. Though the value added ratio of IT manufacturing from total manufacturing industries is second among OECD countries, IT services is sixteenth. The weakness in IT services is a problem in the Korea IT industry. First, the use of IT services is very low in general industries. IT services are rarely used in other industries. The second problem is the inactivity of services using IT services. The lacks of the demand for IT services is an important issue in Korea. Third, there are low labor productivities in IT services. These low labor productivities in IT services can make improvements in productivity and competitiveness of other industries. The fourth problem is the low ratio of R&D investment and the lack of technical specialists. The low R&D investment results in the low productivity of IT services. Last are the number of regulations and no standard for contracts and evaluations in IT services. In order to solve these structural problems, there is a need for an active
plan for the IT service industry. It is necessary to provide support information for the outsourcing of IT services. Also, new business models for IT outsourcing should be developed a n d accepted in order to strengthen the demands for IT services in manufacturing industries. R&D investment based on either customers or demand in IT services should be increased. In particular, R&D investments in technologies and non-technologies are included to the planning of IT service activities. There


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Title Correlation between the IT service industry and economic growth
Similar Titles
Material Type Reports
Author(English)

Ryu, Hyun Sun

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2008
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 13(no. 5)
Pages 18
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Industry and Technology < IT
Holding KIET; KDI School

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